Royce & Associates LP raised its holdings in shares of Ardmore Shipping Corp (NYSE:ASC) by 6.2% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,344,641 shares of the shipping company’s stock after buying an additional 137,600 shares during the period. Royce & Associates LP owned about 7.08% of Ardmore Shipping worth $15,240,000 at the end of the most recent reporting period.
Several other large investors have also made changes to their positions in ASC. Eqis Capital Management Inc. boosted its holdings in shares of Ardmore Shipping by 46.7% in the second quarter. Eqis Capital Management Inc. now owns 30,578 shares of the shipping company’s stock valued at $251,000 after purchasing an additional 9,735 shares during the period. Paloma Partners Management Co purchased a new stake in shares of Ardmore Shipping in the second quarter valued at approximately $448,000. WealthTrust Axiom LLC boosted its holdings in shares of Ardmore Shipping by 40.1% in the third quarter. WealthTrust Axiom LLC now owns 124,100 shares of the shipping company’s stock valued at $806,000 after purchasing an additional 35,500 shares during the period. Renaissance Technologies LLC boosted its holdings in shares of Ardmore Shipping by 1,025.1% in the second quarter. Renaissance Technologies LLC now owns 247,522 shares of the shipping company’s stock valued at $2,030,000 after purchasing an additional 225,522 shares during the period. Finally, Sei Investments Co. raised its stake in Ardmore Shipping by 4.1% in the second quarter. Sei Investments Co. now owns 389,396 shares of the shipping company’s stock worth $3,193,000 after buying an additional 15,492 shares in the last quarter. Institutional investors and hedge funds own 90.56% of the company’s stock.
A number of equities analysts recently commented on the stock. Fearnley Fonds raised shares of Ardmore Shipping from a “reduce” rating to a “buy” rating and boosted their price objective for the stock from $6.70 to $9.30 in a research note on Tuesday, September 25th. Zacks Investment Research raised Ardmore Shipping from a “sell” rating to a “hold” rating in a research report on Tuesday, October 9th. Finally, ValuEngine raised Ardmore Shipping from a “sell” rating to a “hold” rating in a research report on Tuesday, October 2nd. One research analyst has rated the stock with a sell rating, two have given a hold rating and five have assigned a buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $10.22.
Shares of ASC opened at $6.26 on Wednesday. The firm has a market cap of $194.95 million, a PE ratio of -16.92 and a beta of 0.74. The company has a debt-to-equity ratio of 1.11, a quick ratio of 0.94 and a current ratio of 1.16. Ardmore Shipping Corp has a 1-year low of $5.30 and a 1-year high of $8.75.
Ardmore Shipping (NYSE:ASC) last announced its quarterly earnings data on Wednesday, November 7th. The shipping company reported ($0.37) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.33) by ($0.04). The company had revenue of $48.90 million for the quarter, compared to analysts’ expectations of $25.84 million. Ardmore Shipping had a negative net margin of 14.94% and a negative return on equity of 7.85%. Ardmore Shipping’s quarterly revenue was up .4% compared to the same quarter last year. During the same period last year, the firm earned ($0.14) earnings per share. Sell-side analysts anticipate that Ardmore Shipping Corp will post -1 EPS for the current fiscal year.
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Ardmore Shipping Profile
Ardmore Shipping Corporation, together with its subsidiaries, engages in the seaborne transportation of petroleum products and chemicals worldwide. The company operates a fleet of 28 double-hulled product and chemical tankers. It serves oil majors, oil companies, oil and chemical traders, and chemical companies.
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